HomeMy WebLinkAbout25-657ORDINANCE NO. 25-657
AN ORDINANCE OF THE CITY OF DENTON APPROVING A GRANT TO THE PLOT
TWIST, LLC FOR IMPROVEMENTS LOCATED AT 227 WEST OAK FROM THE
DOWNTOWN REINVESTMENT GRANT PROGRAM FOR UTILITY UPGRADES. CODE
IMPROVEMENTS, AND A NEW SIGN IN AN AMOUNT NOT TO EXCEED $35,000.00
FROM TIRZ FUNDS; AND PROVIDING FOR AN EFFECTIVE DATE. THE TAX
INCREMENT REINVESTMENT ZONE NUMBER ONE BOARD RECOMMENDS
APPROVAL (7-0).
WHEREAS, on April 3, 2007, the City Council approved the Downtown
Reinvestment Grant Program (the “Program”) by Ordinance No. 2007-072; and
WHEREAS, on September 10, 2018, August 18, 2020, and December 14, 2021, the
City Council approved changes to the Program by Ordinance No. 21-2626; and
WHEREAS, The Plot Twist, LLC, tenant of the property located at 227 West Oak St.,
Denton, Texas 76201 (the “Property”), applied for a $47,105.00 grant in accordance with the
Program; and
WHEREAS, the Tax Increment Financing Reinvestment Zone Number One Board and
the Downtown Economic Development Committee reviewed the application in accordance with
the Program and recommend a grant in the full amount requested by the applicant; and
WHEREAS, pursuant to the Program, the maximum Grant amount for the improvements
to the Property is $35,000.00; and
WHEREAS, it is in the public interest and benefits the Downtown TIRZ to award the
Downtown Reinvestment Grant, thereby stimulating economic development and promoting desired
redevelopment in the downtown area of the City of Denton; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The findings and recitations in the preamble of this ordinance are found to
be true and incorporated herein by reference as if fully set forth in the body of this ordinance.
SECTION 2. The City Council of the City of Denton hereby approves an agreement
between the City and The Plot Twist, LLC in the form attached hereto authorizing a grant in an
amount not to exceed $35,000.00 payable from tax increment funds under the Program.
SECTION 3. The City Manager, or their designee, is hereby authorized to execute the
Agreement and to carry out the duties and responsibilities of the City, including the expenditure
of funds as provided in the Agreement.
SECTION 4. This Ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this Ordinance was made by Brandon Chase McGee and
seconded by Vicki Byrd ; the Ordinance was passed and approved by the
following vote [7 -0 ] :
Aye Nay Abstain Absent
Mayor Gerard Hudsoeth:
Vicki Byrd, District 1 :
Brian Beck. District 2:
Paul Meltzer. District 3 :
Joe Holland. District 4:
Brandon Chase McGee, At Large Place 5 :
Jill Jester. District 6:
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PASSED AND APPROVED this the 6th=z=Z:”"
ATTEST:
LAUREN THODEN, CITY SECRETARY b\\\tIll IIIll
BY:cAL.'b, JLA -
APPROVED AS TO LEGAL FORM:
MACK RE[NWAND, CITY ATTORNEY
„: 1/_%Deputy CIty Attorney
S tt B Ly
6th May